I have been keeping a watching brief on TNE following my recent disposal of all my holdings at around $5.65. So I have missed out on the upside over the last few months. This is a great company with a long history of steady profit growth and dividend growth.
However it is one of the few, perhaps the only company not significantly re-rated down since 31st August 2018.
As of yestrday’s Closing SP it is sitting on an eye watering P/E ratio of 41.3x
If EPS grows by 15% this year it will still be sitting at 36x
The risk of a re-rate is too high for me. I have other superb companies in my portfolio that have all suffered re-rates so why is TNE immune? It’s not in my opinion.
It will only take a slight hiccup in its results or some sort of Brexit impact to trigger a re-rate and then I might re enter.
I made good money out of TNE so am happy to sit on sidelines at the moment.
GLTAH
A New Investor in TNE, page-65
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Last
$31.28 |
Change
0.390(1.26%) |
Mkt cap ! $7.662B | |||
| Open | High | Low | Value | Volume |
| $30.99 | $31.38 | $30.86 | $6.079M | 195.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 217 | $31.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.29 | 212 | 9 |
View Market Depth
| Last trade - 12.40pm 04/12/2024 (20 minute delay) ? |
| TNE (ASX) Chart |
